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MORTGAGE r~ ~ -l-~4~:~5
John T. Gilbertson
the mortgagor , in consideration of the principal sum specified in the promissory note
hereafter describcd, rec:eived from HOLIDAY OUT IN AMERICA AT ST. LUCIE, INC., a
corporation organized and existing under the Laws of the State of Florida, the Mortgagee, hereby
on this _____Zth__ day of June 19_67, mortgages to the Mortgagee the real
property in St. Lucie County, Florida, described as:
Condominium Parcel: Block ___G________, Lot 18 of HOLIDAY OUT
AT S
i. LUCIE, a condominium, according to the Declaration of Conda
minium thereof recorded in Official Records Book 168 at page 1348, of
che Public Records of St. Lucie County, Florida. As provided for by the
Condominium Act of the Statutes of the State of Florida, (Chapter 711,
Florida Statutes, 1965 Et. Seq.) said description in this conveyance includes,
but is not limited to, all appurtenances to the condominium parcel above
described, including the limited common elements assigned thereto and
including the undivided interest in the common elements of said oondo-
minium.
THIS IS A PURCHASE MONEY MORTGAGE
As security for the payment of the promissory note of which the following is a copy:
~ 4, 623 . 27 , Florida, June 7 ~ lg 67 ,
For Value Received, I, we or either of us pmmise to pay to the order of HOLIDAY OUT
IN AMERICA AT ST. LUCIE, INC., at Post Office Box 161, Stuart, Florida, or any other piace
as the holder hereof may designate in writing. the sum of Four_Thousand Six_Hundred_Twenty-
Three &2Z,/1QQ____ Dollars, which includes interest on the principal amount loaned, payable in
_~iQ equal consecutive monthly inscallments of ~ ~ 5~ _ each, and the first
installment to become payable on the ____lst of _October 67
19_-.----, and
one such installment to become due and payable on the _____1__~t day of each succeeding month
until the whole of said indebtedness is paid, with interest from ____~Iune 7. 1 67__
at the rate of per cent per annum afttr maturity.
In the event of prepayment, a deduction from the amount due on account of uneamed
interest shall be allowed. -
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~i~ It is agreed that time is of the essence of this contract and that in the event of default in
payment of any installment for a period of tbirty days the holder of this note may, at its option,
declare all the remainder of the said debt due and collectible and any failure to exercise said
option shall not constitute a waiver of the right to exercise the same at any other time. In the
event of default in payment of this note and if the same is placed in the hands of an attorney for
collection, I, we, or either of us agree to pay all costs of collection, including a reasonable attorzey's
fee. In case payment shall not be made at maturity, the makers, sureties and endorsers jointly and
severally agree to any extensions or renewals without further notice, binding ourselves for payment
thereof, as if no extensions of time or forbearance of payment had been made or granted.
I, we or each of us, whether principal, security, guarantor, endorser other pany hereto,
agree to be jointly and severally bound. I or we, each further waive d, ro and notice
of demand, protest and non-payment. , ~f~ U
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and agrees: i
1. To make all payments requir by that note and this mortgage promptly when due.
2. To pay all taxes, assessments, liens and encumbrances on that property promptly when
due. If they are not promptly paid the Mortgagee may pay them without waiving the option *_o
foreclose, and such payments, with interest thereon from the date of payment at the same rate as
specified in that note, sha11 also be secured by this mortgage.
3. To commit, permit, or suffer no waste, impairment or deterioration of the mortgaged
propercy.
4. To pay all expenses reasonably incurred by the Mortgagee because of failure of the
~1lortgagor to comply with the agreements in that note or this mortgage, including reasonable
attorneys fees. The cost thereof, with interest thereon from the day of payment at the same rate
as specified in that note, shall also be secured by this mortgage.
BOOK 1 ~O PAGE168~
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